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Monday, 13 August 2012

Review of Export Performance

Export performance is monitored continuously. India’s export is increased by 40.5 % and 21.3 % (provisional) in US $ terms during 2010-11 and 2011-12 respectively. The low growth is attributable to both global and domestic factors. The global factors include the crisis in the euro-zone and the near-recessionary conditions prevailing in Europe; sluggish growth in several industrialized economies including the USA; hardening international prices of crude oil. Among domestic factors, the tightening of monetary policy in order to control inflation resulted in the slowing down of investment and growth, particularly in the industrial sector. Measures taken by the government include enhancing the level of investment for agriculture sector including irrigation projects, promoting Micro Small & Medium Enterprise sector by way of higher allocation of funds, enhancing investment in the infrastructure sector focusing on Public Private Partnership and number of legislative measures to develop the financial sector. This information was gi